Ray Dalio Bridgewater Associates
Ray Dalio is the founder of Bridgewater Associates, one of the world’s largest hedge funds, known for its unique “principles-based” culture and systematic investment approach. Dalio’s investment philosophy emphasizes diversified portfolios, risk parity, and the importance of understanding economic cycles in shaping investment decisions. He has authored several books, including “Principles: Life & Work,” in which he details his management philosophies, personal experiences, and life lessons.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$142M |
| 2 |
Procter & Gamble
PG
|
+$74.5M |
| 3 |
PepsiCo
PEP
|
+$60.9M |
| 4 |
Pinduoduo
PDD
|
+$58.5M |
| 5 |
Johnson & Johnson
JNJ
|
+$56.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$565M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$337M |
| 3 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$335M |
| 4 |
Walmart Inc
WMT
|
+$314M |
| 5 |
Danaher
DHR
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.98% |
| 2 | Consumer Discretionary | 17.74% |
| 3 | Healthcare | 17.12% |
| 4 | Industrials | 3.53% |
| 5 | Financials | 3.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JOYY
226
JOYY Inc
JOYY
$3.75B
| $7.49M | 0.04% |
164,775
+30,746
| +23% | +$1.59M |
|
227
HUTCHMED
HCM
$2.17B
| $7.48M | 0.04% |
213,100
+42,549
| +25% | +$1.38M |
|
228
NovoCure
NVCR
$1.91B
| $7.46M | 0.04% |
99,401
+3,295
| +3% | +$331K |
|
229
Axalta
AXTA
$8.17B
| $7.45M | 0.04% |
224,952
-125,450
| -36% | -$3.98M |
|
230
Fidelity National Information Services
FIS
$22.1B
| $7.39M | 0.04% |
67,724
+61,451
| +980% | +$6.94M |
|
231
Waste Management
WM
$91B
| $7.38M | 0.04% |
44,228
+40,684
| +1,148% | +$6.54M |
|
232
Qfin Holdings
QFIN
$1.61B
| $7.37M | 0.04% |
321,274
+71,869
| +29% | +$1.6M |
|
|
SAFM
233
DELISTED
Sanderson Farms Inc
SAFM
| $7.35M | 0.04% |
38,486
+1,336
| +4% | +$252K |
|
|
DQ
234
Daqo New Energy
DQ
$996M
| $7.27M | 0.04% |
180,353
+41,529
| +30% | +$2.41M |
|
235
PVH
PVH
$4.04B
| $7.2M | 0.04% |
67,467
-40,028
| -37% | -$4.38M |
|
236
Simply Good Foods
SMPL
$982M
| $7.17M | 0.04% |
172,581
+4,288
| +3% | +$164K |
|
|
MZTI
237
The Marzetti Company
MZTI
$3.11B
| $7.12M | 0.04% |
42,993
-10,573
| -20% | -$1.73M |
|
238
Sprouts Farmers Market
SFM
$8.01B
| $7.09M | 0.04% |
238,844
+37,408
| +19% | +$936K |
|
|
SIVB
239
DELISTED
SVB Financial Group
SIVB
| $7.08M | 0.04% |
10,439
-11,210
| -52% | -$7.9M |
|
240
AutoNation
AN
$6.92B
| $7.01M | 0.04% |
59,991
-45,796
| -43% | -$5.51M |
|
241
Encompass Health
EHC
$12.4B
| $7.01M | 0.04% |
134,989
+22,416
| +20% | +$1.16M |
|
242
AMN Healthcare
AMN
$1.4B
| $6.95M | 0.04% |
56,809
+13,210
| +30% | +$1.47M |
|
243
WD-40
WDFC
$3.15B
| $6.92M | 0.04% |
28,289
+4,554
| +19% | +$1.06M |
|
244
T-Mobile US
TMUS
$190B
| $6.82M | 0.04% |
+58,762
| New | +$6.91M |
|
|
FRC
245
DELISTED
First Republic Bank
FRC
| $6.58M | 0.04% |
31,857
-39,559
| -55% | -$8.34M |
|
246
CSX Corp
CSX
$93.1B
| $6.53M | 0.04% |
173,744
-1,214
| -0.7% | -$42.8K |
|
|
SWAV
247
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
| $6.48M | 0.04% |
36,347
+4,226
| +13% | +$833K |
|
248
Ollie's Bargain Outlet
OLLI
$4.94B
| $6.33M | 0.04% |
123,697
-1,463
| -1% | -$89.1K |
|
249
Certara
CERT
$1.25B
| $6.32M | 0.04% |
222,452
-43,442
| -16% | -$1.46M |
|
250
Trex
TREX
$5.01B
| $6.3M | 0.04% |
46,641
-9,235
| -17% | -$1.11M |
|
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Ray Dalio's Q4 2021 Portfolio in Review
As of Q4 2021, Ray Dalio held 820 positions worth $17.2B, down 5.8% from $18.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Ray Dalio withdrew a net $1.89B in Q4 2021, closing 89 positions and reducing 292 holdings. Its most notable exit was Ecolab, an estimated $14.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Ray Dalio opened a new position in RTX Corp worth $16M.
- Ray Dalio's largest Q4 2021 buy was RTX Corp: 186,232 shares worth $16M.
- Ray Dalio added most to Alibaba in Q4 2021, an estimated $142M increase.
- Ray Dalio's biggest Q4 2021 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $565M.
- Ray Dalio fully exited Ecolab in Q4 2021, selling an estimated $14.2M.
- Ray Dalio's ten largest holdings make up 36% of its $17.2B portfolio in Q4 2021.
- Ray Dalio opened 137 new positions and closed 89 in Q4 2021.
- Ray Dalio's portfolio value fell 5.8% quarter-over-quarter to $17.2B.
Based on Bridgewater Associates's 13F filing for Q4 2021, filed 14 Feb 2022.